All posts by Dhruv Joshi - 5. page

Professional Tax Consultant and Article Writer

Payments Under Bank Guarantee –Precautions to be taken : Before making payment, a banker has to ensure that the invocation of the guarantee has been properly done failing which he may […]

Issuance of Bank Guarantee – Precautions to be taken : The liability of bank issuing bank guarantee is based on two factors (a) the amount guarantee and (b) the period […]

Rights of an Indemnity Holder : Section 125 of the Contract Act deals with the rights of an indemnified or the indemnity holder. The promisee in a contract of indemnity, […]

Types of Guarantee : Following types of bank guarantees issued by banks- 1. Financial guarantee: These are guarantees issued by banks on behalf of their customers, in lieu of the […]

Current Accounts : – Banks while opening current account must obtain a declaration to the effect that the account holder is not enjoying any credit facilities with any other bank. Banks […]

Exceptions : Cases of fraud: The Supreme Court in United Commercial Bank v. Bank of India, AIR 1981 SC 1426 observed as follows: “Except possibly in clear case of fraud […]

Liability of Bank under a Bank Guarantee Given on behalf of a Company Ordered to be wound up : Liability of a bank on a guarantee issued by it on behalf […]

Banker’s Duty to Honour Guarantee : Bank guarantees from the foundation of trade and commerce. Even though they are an off shoot of a primary contract between the debtor and creditor, […]

Bank Guarantee : Need for bank guarantee in the commercial and business world is almost inevitable. Bank customers in their business world are often required to furnish bank guarantee either in […]

Application of Indemnity Contracts to Banks : As far as a banker is concerned, the law relating to indemnities is of grat importance. In the course of baking business, there are […]